Jay Zagorsky, a research scientist at Ohio State University ‘s Center for Human Resource Research,uses data involving 9,055 people who participated in the National Longitudinal Survey of Youth, which is funded primarily by the U.S. Bureau of Labor Statistics to show how people’s relationship choices affect their wealth position. The NLSY is a nationally representative survey of people in the US, conducted by Ohio State ‘s Center for Human Resource Research.
The same people are interviewed repeatedly over time, giving Zagorsky the opportunity to see how wealth changes as a result of marriage and divorce. Zagorsky used data from 13 NLSY surveys conducted between 1985 and 2000. All the respondents were between 21 and 28 years old in 1985.
People who remained single had a steady, but slow growth in wealth – from less than $2,000 at the start of the surveys up to an average of about $11,000 after 15 years.
People who got married and stayed married showed a sharp increase in wealth accumulation after marriage, growing to an average of about $43,000 by the 10th year of marriage.In fact, married people increased their wealth about 4 percent each year just as a result of being married, with all other factors held constant. Read more of this post